Orbis Research Present’s “Singapore-The Future of Foodservice to 2021” magnify the decision making potentiality and helps to create an effective counter strategies to gain competitive advantage.
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Singapore The Future of Foodservice to 2021, published by GlobalData, provides extensive insight and analysis of the Singaporean Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
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Despite its modest population size, Singapore is the thirty-seventh largest economy in the world. Upon gaining independence in 1965, a series of regulation reforms cultivated conditions that enabled businesses to thrive.
Over the next 50 years, Singaporean GDP per capita increased at one of the fastest rates worldwide.
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From 2014-2016, the value of the foodservice sector increased at a CAGR of 3.7%, from SGD 11.5 billion to SGD 12.4 billion. The sector is forecast a marginally accelerated CAGR of 3.9% during 2016-2021, and is expected to be valued at approximately SGD 15.1 billion by 2021.
The QSR channel dominates the foodservice sector, accounting for 43.2% of sector's sales value in 2016. FSR is the second largest channel, representing a share of 24.5%, and the pub, club & bar and coffee & tea shop channels each account for 5.2% of sector's sales value.
Growth has been, and will to continue to be driven by rising transaction numbers, with the potential for outlet growth hampered by urban areas approaching saturation.
The report includes
Overview of Singapore's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Singapore's foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
Growth dynamics: In-depth data and forecasts of four key channels (QSR, FSR, Coffee and Tea Shops, and Pubs, Clubs and Bars) within Singapore's foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
Customer segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Singaporren population.
Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Case Studies: Learn from examples of recent successes and failures within the Singaporean foodservice market.
Browse the complete report at www.orbisresearch.com/reports/inde…odservice-to-2021
Singapore has a particularly prominent QSR channel, accounting for 43.2% of the foodservice sector's total sales value. The channel is relatively fragmented, primarily due to the large presence of hawker centers, each of which house a wide array of stalls selling relatively inexpensive food.
Despite its dominance in the foodservice sector, the QSR channel is forecast to be one of the fastest rates of sales value growth during 2016-2021. Some QSR operators are beginning to position themselves as more upmarket, with higher quality menu items at a standard reminiscent of the FSR channel, and a dine-in atmosphere which is halfway between QSR and FSR.
Over half of surveyed consumers stated that they prefer drinking alcohol at home instead of in a pub, club or bar. In addition, a third of consumers claimed to not consume alcohol.
It is expected that the increasing popularity of 'third wave coffee', as seen in other mature foodservice markets, will result in a shift towards a greater number consumers socializing in the coffee and tea shop channel.
Reasons to access
Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee and Tea Shops, and Pubs, Clubs and Bars) will allow readers to understand the wants and needs of their target demographics.
Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within Singapore's foodservice market.
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